Perfect time for entrepreneurs to become industrialists: Expert panel at VIA

Various experts during a workshop organised by Economy and Finance Forum of Vidarbha Industries Association (VIA) said that it’s the perfect time for entrepreneurs to become industrialists. The workshop was held on Tuesday at VIA Auditorium, Udyog Bhavan in Civil Lines, Nagpur.

AP Dharmadhikari, Joint Director of Industries, Nagpur, was the chief guest at the workshop. In his address, he said that propagating and appealing industrialists about any government schemes and incentives by any government authority is little difficult. He said, “Running of any manufacturing industry is a noble profession as they are also doing some social cause. Now after implementation of GST and demonetisation, it is even better.”

Renowned industrialist of the Vidarbha region and expert Prashant Mohota who’s the former vice President at VIA and Managing Director of Gimatex Industries, Hinganghat also gave a presentation on the same. He said that the Indian economy, which is fastest growing economy in the world and GDP annual projection growth, is more than 7.5%. He also highlighted about India being estimated to be top three economies in the world with $5 trillion economy by 2025 and $10 trillion economy by 2030. Young population and easy labour, advantage Vidarbha and low yielding alternate investment avenues have made manufacturing the best option for investment. He discussed various common schemes of central and state governments for manufacturing industry.

He highlighted all the policies, which exist for the benefit of setting up of industries and running it smoothly. He also focused on the various schemes available for ease of doing business in real estate, arranging low cost capital, labour, energy, management system, etc. He discussed sector related schemes like textiles, food industries, agricultural, cold storage, etc. As of now, around 80% of the investment could be the amount of subsidy and incentives receivable in 10 years period. CA Yash Bhojwani and Shivkumar Rao, Director of R&Y Logistics also gave their inputs during the presentation and shared details of sectorial schemes of textiles, food and agriculture and logistics. Mohata in his presentation even demonstrated how the incentives could be stretched even to 140% of the investment amount.

Atul Pande, President VIA, said, “This session would be beneficial for everyone present and people should become industrialists and VIA should extend all helping hands as and when required.”